An auto dealer, Olusegun Lawal, was on Thursday convicted and sentenced to three years’ imprisonment by a Lagos State Special Offences Court sitting in Ikeja for stealing N30 million belonging to HSLM Trust & Associates Limited.
Justice Mojisola Dada sentenced Lawal, who traded under the name and style of Faveo Auto Solutions, after he pleaded guilty to an amended one-count charge of stealing filed by the Economic and Financial Crimes Commission.
EFCC had initially arraigned Lawal on Tuesday, 2026, on a five-count charge bordering on stealing, obtaining by false pretence and issuance of dishonoured cheques.
He had pleaded not guilty to the charges, leading the court to adjourn the matter until November 3, 2026, for trial.
EFCC prosecution counsel, Umar Kyari, had told the court that the defendant allegedly stole the sum of N30m belonging to HSLM Trust & Associates Limited in March 2020.
The anti-graft agency further alleged that Lawal fraudulently obtained the money from the company after he lied that it was the purchase price for a 2020 Mercedes-Benz G63 AMG vehicle, a representation the commission said he knew to be false.
According to the Commission, the offences committed contravened Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011, 1(1) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006, and Section 1(1)(b) of the Dishonoured Cheques (Offences) Act, Cap D11, Laws of the Federation of Nigeria, 2004.
However, when the matter came up on Thursday, EFCC counsel, U.S. Kyari, informed the court that the prosecution had filed an amended one-count charge against the defendant, bordering on stealing contrary to Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011.
The charge alleged that Lawal, on or about March 3, 2020, in Lagos, fraudulently converted N30m belonging to HSLM Trust & Associates Limited to his personal use.
After the amended charge was read to him, Lawal changed his plea from not guilty to guilty.
Following his plea, the prosecution called Tanko Obed to review the facts of the case and tendered relevant documents, which were admitted in evidence by the court.
Justice Dada subsequently found Lawal guilty and convicted him.
The court sentenced him to three years’ imprisonment with an option of a N1.5 m fine, which must be paid within 30 days.